Forex Trading Articles

The Best Ripple Trading Strategy for 2020 (XRP Trading)

tight trading plan guideDid you consider purchasing other cryptocurrencies aside from Bitcoin? In case the solution is yes, then look no farther. The ideal Ripple trading system could cause you to countless by trading among of those fastest-growing cryptocurrencies.

At the conclusion of 20 17 and also the beginning of 2018, the spike in the purchase price tag on Ripple has been the latest topic from the crypto community. Ripple price has discounted from under $0.02 to greater than $3 in under annually. It’s risen by 1,400% throughout the previous month .

Before we reveal you a profitable solution for afternoon trading XRP ripple, we recommend familiarize yourself using cryptocurrency. Our team in TSG has come up with the very best cryptocurrency guide for beginners. The manual helps anybody get going trading Bitcoin as well as also other cryptocurrencies.

This class will direct you on the essentials of block-chain technology.

The first logical question that really must definitely be to your own brain is, what exactly is Ripple? Why should you get thinking about buying Ripple?

Ripple cryptocurrency value has sky rocketed plus it’s on everyone ‘s mind. Atone point, Ripple surpassed Ethereum and became the next cryptocurrency concerning market funding. It is also possible to trade with all the winning news trading plan.

What Is Ripple Coin (XRP)?

Ripple is a cryptocurrency predicated on a individual block-chain which ‘s permission-based and concentrated. It’s attracted a great deal of criticism against the block-chain evangelists. That is only because ‘s the contrary of Bitcoin block-chain, that will be decentralized and public.

Ripple tech is hoping to safely and immediately supply an nearly free world wide financial trade station.

So, exactly why is Ripple this type of fantastic cryptocurrency?

Ripple is hoping to address an ageold accounting issue. If you were to think about it from the device we utilize now we perform plenty of global money transfers that has many years for all these transfers to happen. Thus, Ripple is hoping to upgrade that system and also ensure it is faster and safer.

We feel that Ripple cryptocurrency features an extremely helpful place from the market since it’s servicing a enormous need.

Even though Ripple coin is significantly different compared to Bitcoin, certainly one among those Ripple’s advantages is the fact that it has confirmation. This means close realtime and instant verification of trades. Plus, Ripple cryptocurrency is excessively affordable. It is also possible to find out about budgeting from forex to get much better trading.

So, where’s your ideal location to purchase Ripple?

That will be this issue you would like to concentrate next, today that individuals know the way valuable Ripple is.

Interested in what you are reading? Grab our Free Ripple PDF Strategy Guide Here!

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The Best Places to Buy Ripple

Before you start day-trading XRP Ripple we will need to work out what’s the ideal location to purchase Ripple. Within this part we’re definitely going to coach you on just how to have both hands on several Ripple until it gets into the moon .

First, We Must prove that you have just two options to Obtain Ripple:

  1. Using fiat cash like US dollars, Euros, Yen etc..
  2. Using different cryptocurrencies, broadly speaking just Bitcoin (BTC) or even Ethereum (ETH).

Top Exchanges to Buy Ripple Right Now:

The best ways to purchase ripple are through cryptocurrency exchanges. Below is just a set of the very reputable, reputable Ripple deals available on the marketplace. Once you get, you have the option to put away your own XRP tokens while in the market or move to a protected pocket.

no 1 Binance – They are famous for their strong team, recognized services and products, superior technology, and industry tools. They’ve a solid association with industry leaders and also are competent or 1,400,000 orders each second that by much makes them the fastest market on the industry these days.

binance logoThey have an entirely customizable trading complex charting platform!

You are able to find out more regarding Binance here in case you’re interested.

If you don’t have any cryptocurrency at all, or when you don’t have Bitcoin or Ethereum or other alternative coins, your only option is to use your fiat money from your bank account or debit/credit card to buy cryptocurrency Ripple.

Note* – We highly recommend to do your own due diligence because we’re not endorsing any of these cryptocurrency exchanges.

best place to buy ripple

The best place to buy Ripple with cryptocurrency is Binance, Bittrex or Poloniex which are ranked as the top three exchanges in terms of volume. You still need to first purchase Bitcoin or Ethereum so, if you’re completely new this is kind of your entry portal to Ripple.

best place to buy ripple

The first step is to buy with US dollars, any amount of Bitcoin. Then you can transfer those Bitcoins to Binance, one of the largest cryptocurrency exchanges. Once you’re on Binance you can use your bitcoin to then buy some Ripple coins.

Moving forward, we’re going to outline a simple Ripple trading strategy that is based purely on price. No indicators are required for this strategy. We have already developed a step by step guide into the price action that we believe will be useful in day trading XRP Ripple.

Day trading XRP Ripple with Naked Charts

For our Bitcoin trading strategy we used some particular trading tactics but for day trading XRP Ripple we need to deploy different trade tactics. This is because Ripple’s price action has its own personality.

Our TSG team has discovered through careful examination and backtesting, that Ripple has the tendency to bottom on up during specific times of the day. Moving forward you’ll learn what the best time to day trade XRP Ripple is.

Step #1 Divide your 5-Minute Chart by Trading Sessions

Since we’re using a strategy only for day trading Ripple, we need to make use of intraday charts. The ideal time frame to implement our Ripple strategy is the 5-minute chart. Also, read the simple way of trading multiple time frames in forex.

The 15-minute chart will give us a better view of the overall price action and on the Ripple intraday trend.

day trading xrp ripple

Most cryptocurrency trading platforms can do this automatically and place a vertical line at the start of a new trading day. By doing this we istter visualize where the opening daily price is for each new trading session.

This brings us to Step #2.

Step #2 If we’re on an Up-Day, Mark on your Chart the Time Window between 9 – 10 GMT Time

As we mentioned earlier we have found out through backtesting that the best time to buy Ripple is between 9 – 10 GMT. However, that’s only half of the equation because our statistics also show that the best time to buy Ripple is in the up days.

What do we mean by this?

We want to buy Ripple between 9 AM and 10 AM GMT. Ripple is trading above the opening price.

ripple news

Our Ripple strategy is very intuitive!

If we buy Ripple above the opening price, it means that we’re buying in the direction of the prevailing trend. Essentially, this is a trend following strategy deployed on intraday trends.

Step #3 Buy anywhere between the 9 – 10 GMT Time Window

From 9 to 10 GMT we have our window of buying opportunity. This time window also coincides with the London open and it’s the time when many cryptocurrency traders step into the market.

Now, depending on your trading skills and your experience you can fine-tune your entry point within this time window.

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The next logical step to establish is where to hide our protective stop loss.

Interested in what you are reading? Grab our Free Ripple PDF Strategy Guide Here!

ripple trading strategy

Step #4 When day trading XRP Ripple hide your SL below the Opening Price

It’s quite intuitive why the logical place to hide your protective stop loss is below the opening price. Any deep below Ripple opening price will alter the bullish sentiment.

A sell-off below the opening price indicates that the buyers are weak and maybe we’re better off trying to buy Ripple on another day.

ripple wallet

In order to make profit trading Ripple, we also need a strategy to get out of our position.

We’re also proposing an unorthodox way when it comes to the take profit strategy, which brings us to the next step.

Step #5 Take profit once the Price Travels the Same Price Distance it did from the opening price until 9 AM GMT

We’re going to suggest the best way to take profit on Ripple.

For an easy understanding of our Ripple take profit strategy we’re going to break down the strategy in two parts:

  • First, measure the price distance from the opening price to the high established between 9 to 10 AM GMT.
  • Second, project the same price distance to the upside measured from the low established between the 9 – 10 GMT window.

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The same trading concept has been used multiple times in our various trading strategies. We recommend taking this approach because it incorporates the dynamics of the price rather than an arbitrary price on your chart.

Conclusion – Ripple Trading Strategy

It is said that Ripple has the potential to disrupt the SWIFT system for sending large amounts of money to different countries. Ripple doesn’t even have a lot of competition in this space plus also they have the ideal infrastructure to function as following Bitcoin. It is also possible to browse our most useful shortterm trading plan.

We’re still at early stage of gigantic adoption consequently the ideal approach is now trading XRP Ripple for that moment. Our Ripple trading system will permit one to make the most of benefit from trading probably the very exciting cryptocurrency from 2018. Don’t forget to read the latest article on the best cryptocurrencies to invest in 2020.

Please leave a comment below if you have any questions about Ripple Trading Strategy!